Electrification and autonomous vehicle technology startups were once darlings of the corporate and venture capital world. The two technologies promised billions of dollars in revenue and a new avenue for automakers to make money beyond building and selling cars.
At the time, Henrik Fisker conceived a thriving electric vehicle empire in his eponymous company, which would be headed by the all-terrain Ocean. However, that vision began to crumble almost immediately once the Ocean was launched on the market in 2023.
Hyundai has said it will start making electric vehicles under its high-performance N brand created to compete with luxury sports cars from Mercedes-Benz and BMW.
Some estimates put the future mobility market at $178.7 billion by 2026, up from $78.1 billion two years ago. Over the past decade, $400 billion worth of investments have been made in the sector and $100 billion invested since 2020. But most VC funds are not specialists in this area. Thus, space has opened up to look specifically at electric powertrains, batteries, and broader electric and fuel cell solutions for mobility.
More than a quarter of Americans say they would not buy an electric vehicle (EV), according to a Consumer Reports survey. Price, autonomy and access to charging stations remain the main barriers to buying an electric vehicle. But Consumer Reports has identified a new factor: a lack of education about EVs.
Ford announced a major restructuring to better focus on the different challenges and opportunities with electric vehicles (EVs) and internal combustion engine vehicles (ICEs).
Porsche said it will start building its own global network of charging stations next year, a departure from its initial strategy of relying on partnerships with other companies.
Bosch is increasing its focus on semiconductor production to keep up with the current shortage of chips. The company is investing an additional $296 million, on top of the $473 million Bosch already committed to spending by 2022 last year, for new manufacturing facilities.
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